Boating makes financial sense with SailTime

Post by: TheYachtMarket News

14 August 2009

Come and visit us in the Marina on Berths 243 & 246 at the PSP Southampton International Boat Show

With the on-going economic situation, many boaters are looking to make financial savings while still being able to enjoy time on the water. One solution is to take advantage of SailTime’s boating membership scheme. This international organisation, established in 2001, now has over 150 boats in 60 bases worldwide, including the UK, USA, Canada, Ireland, France, Italy, Holland, Turkey and Australia. In the UK and Ireland alone, SailTime has twelve bases with 40 Beneteau sail and power boats.

The company says that its figures show an average 69 per cent cost saving when comparing SailTime membership to private ownership of a boat, taken over a five year period.

“Owning and sailing a boat has often been described as standing under a cold shower tearing up twenty pound notes,” says SailTime Europe’s Managing Director Jonathan Duffy. “But our figures show that you can still enjoy regular use of a boat, without all the hassle of ownership and benefit from a first class yacht management service, as well as saving significant amounts of money.”

SailTime offers two types of membership – as an Owner Member, and as a Member. The Owner Member buys a brand new boat through SailTime, and then receives all the SailTime membership benefits free, and in addition earns a monthly income from SailTime. This can be around £7,500 per annum income against a purchase price of £75,000 – a saving of £37,500 over five years.

As a SailTime Member, monthly costs are around £500 per month.

Both types of Members have the same benefits of a fully maintained, fully insured yacht available for at least 42 days per annum, around seven sails per month, and even free fuel (on sailboats).

“The Owner Member scheme enables those who still want to own a boat to do so, and to benefit from cost savings on their purchase. As SailTime is one of the major purchasers of Beneteau yachts, the Owner Member’s boat is highly specified, and fully equipped to MCA safety standards,” continues Duffy.

SailTime’s calculations are based on owning a 10 metre (approx 32 feet) sailing yacht. The marina costs are taken to be the average berthing fee for a vessel of that size in North Wales – a relatively low-cost venue compared to high-demand South Coast marinas. Taking a typical purchase price of £100,000, SailTime has calculated the interest charges, depreciation over five years, annual yacht insurance, berthing fees, as well as average maintenance, servicing and fuel costs. The total comes to a staggering £22,413 per annum, which is £1,868 per month.

SailTime Owner Member Simon Brooker agrees. “Like many people, I never really wanted to add up the true cost of boating. It is my passion and I wanted to enjoy it – whatever the cost. But being an Owner Member with SailTime makes sense. You get a new, fully-equipped, fully-serviced and maintained boat whenever you want to sail. Previously my boat was always needed some work done on it, and even just the hassle of sorting it out, organising insurance and berthing, getting it anti-fouled and maintained, over-wintering, cleaning and repairing took a lot of time. Now I just book online, turn up and sail. It’s great.”

SailTime also offers additional benefits to Members – the chance to sail from other SailTime bases worldwide, including the new bases in South of France and on the Italian Riviera. And finally, while many may think that the opportunity to sail for 42 days per year or seven sails per moth is not much – figures show that the average boat is only used for 36 days per annum. “And if people want to use the boat more, there is the opportunity to make last minute bookings which do not come off your SailTime allocation,” says Duffy. “Any boat that is available and booked with less than 24 hours notice is free to use – now that’s not something you can usually say about boating!”

Notes to editors:• The monthly Membership fee for a Bénéteau Oceanis 323 is £499 including vat. There are no other costs for Members - SailTime pays for all the marina fees, maintenance, insurance and running costs. • SailTime members can utilise other SailTime bases in the USA, Caribbean and Netherlands.• Members are required to join for an initial 12 months, after which there is a rolling 90-day notice period.

• SailTime Members check on and off the yachts using the SailTime E-ttendant™, a handheld PDA which guides them through a series of safety and equipment checks.• Members pay a £1,700 induction and training fee for a two-day course which includes use of the online calendar and E-ttendant™, training on the specific yacht; navigation, electronics and general layout of the boat, and orientation day-sail.